Andrew Kang said Non-fungible Token will enter the big Bull Market: BLUR's market share crushes Magic Eden, AI becomes the new generation of buyers

Investor Andrew Kang in the crypto world recently expressed optimism about the future of the Non-fungible Token market, and believes that it is about to enter the most magnificent Bull Market in history. Kang believes that Non-fungible Tokens are not only long-term investment vehicles for digital assets, but also the preferred digital luxury goods of the future AI era. In particular, the BLUR platform in the Non-fungible Token market has performed well. With the increase in BLUR's market share and the optimization of the reward mechanism, it may become a market focus.

Non-fungible Token is a long term value investment, AI will become the new generation of buyers

Kang believes that long-term holders of Non-fungible Tokens are not 'fools', but visionary investors. He points out that future AI development will create a lot of wealth, but AI itself cannot buy physical luxury goods, so digital luxury goods like Non-fungible Tokens will become the preferred capital inflow for AI. As the market overheats, the demand for 'show-off consumption' in the digital field will greatly drive the craze for Non-fungible Tokens.

(a16z founder amazed: AI robot Truth Terminal can raise funds on its own and propose business plans to make profits on its own)

BLUR has dominated the majority share of the Non-fungible Token market

Kang specifically mentioned that the valuation of the Non-fungible Token platform Magic Eden is as high as $3 billion, but its market share is far less than that of the BLUR platform. Since its launch, BLUR has successfully occupied the main share of the Non-fungible Token market, but its price has not risen significantly. He believes that the value of BLUR is severely underestimated by the market, and in the future, with the launch of the transaction fee sharing mechanism, it will benefit BULR holders and further enhance its market value.

According to THE BLOCK chart, BLUR has captured a significant market share of Non-fungible Tokens in 2024. It is a key catalyst for the Non-fungible Token Bull Market, with projects launching new initiatives or Tokens.

Kang mentioned that an important reason for the revival of the Non-fungible Token market is the launch of innovative projects by the project parties, such as the well-known Non-fungible Token project Azuki's upcoming issuance of 'Anime Coin', and other major Non-fungible Token projects may follow suit, further stimulating market enthusiasm. Kang emphasized that the current supply of Non-fungible Tokens in the market is relatively insufficient, and most users holding Non-fungible Tokens are long-term investors with no intention of selling. Therefore, as long as a small wave of demand surges in, it can quickly drive the market to warm up.

The floor price of the Non-fungible Token project Azuki is currently about 5.69 ETH, and the price is expected to be higher in the future with the issuance of Anime Coin.

(Non-fungible Token weekly big pump 86% surged to $173 million, #PUNK3493 reborn on Solana)

This article Andrew Kang claims that Non-fungible Tokens will enter a major Bull Market: BLUR's market share crushes Magic Eden, AI becomes the new generation of buyers, first appeared in Chain News ABMedia.